WASHINGTON (March 4): The US services sector activity surged to more than a 3-1/2-year high in February amid strong demand, consistent with hopes for an acceleration in economic growth this quarter, but war in the Middle East poses a downside risk to the rosy picture. A reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of US economic activity. The war has raised natural gas and oil prices, and caused volatility on global stock markets. "Uncertainty surrounding the length of the conflict and the recent decline in the sensitivity of energy investments to oil prices might limit this capex offset, pushing the GDP drag to about 0.13 percentage point." New orders increase stronglyThe ISM survey's measure of new orders increased to 58.6 last month, the highest level since September 2024, from 53.1 in January.

Source: The Edge Markets March 04, 2026 15:10 UTC